The Central at 5th by Hilton Club-New Location?

[holdaer]

Has anyone noticed this new location on the HGVC club website?

This appears to be a new location since it's address is 12-14 East 48th Street
New York, New York 10017.

The Quin address is 101 W. 57TH STREET, NEW YORK, NEW YORK, 10019

I haven't heard any news or rumors about another location in New York.

Has anyone heard of this new location in any presentation?

 

[brp]

Interesting. Appears to be similar to W. 57th in terms of room sizes - a series of Studio and 1BD options. Also a nice location.

I was on the site yesterday booking at W. 57th and never did scroll past to see that, but it is still in the session from yesterday
Cheers.

 

[seagila]

Article says it's an HGV hotel, but it might very well be bHC. More options in NYC is good.

Metal Facade Begins To Rise For 31-Story Hilton Hotel At 12 East 48th Street In Midtown East, Manhattan

 

[JohnPaul]

Someone reported on this from a presentation awhile back but I didn't put much store in it.

 

[CalGalTraveler]

We have a presentation coming up and will ask about it. Although the location is decent in midtown, I like being only a block away from Central Park at W57, and can see Central Park out the windows from some of the higher floors. I am certain the new building it will be very nice inside.

It's interesting that this is a new build. It sounds similar to GI with a third party developing the building and HGVC responsible for managing and selling the units.

 

[dayooper]

Article says it's an HGV hotel, but it might very well be bHC. More options in NYC is good.

Metal Facade Begins To Rise For 31-Story Hilton Hotel At 12 East 48th Street In Midtown East, Manhattan

The resort page says it's Hilton Club. It has the Hilton Club logo on the picture. https://club.hiltongrandvacations.com/en/resort/new-york/the-central-at-5th-by-hilton-club/

Makes sense as it fits the mold of the other NYC bHC properties. Those types of places must be a gold mine. They are up to 4 bHC properties (West 57th, The Residences, The Quin and Central at 5th) and then they also have The Hilton Club property as well. Lots of new properties in NYC. Hopefully will open up some availability.

 

[CalGalTraveler]

Added this to the list of upcoming HGVC and bHC properties:

Officially Announced

1. Saint Philip, Barbados: HGVC @ The Crane (conversion; 2Q 2019)
2. The Quin by Hilton Club, bHC New York, New York (conversion)
3. Cabo San Lucas, Mexico: HGVC @ Los Cabos Hilton (conversion)
4. Chicago, Illinois: Chicago HGVC (conversion; 2H 2019)
5. Ocean Tower, BI HGVC (conversion; Phase I avail now)
6. Waikiki, bHC (new build?)
7. Okinawa, Japan tbd (new build)
8. Charleston, SC, bHC (new build) (corrected/edited)
9. Kihei, Maui HGVC (new build; Phase I - 133 units 2020)
10. The Central at 5th, NYC, bHC (new build, Q1,Q2 2020)

Rumored

1. Turtle Bay, HI: HGVC @ Turtle Bay "rumored"
2. Ambergris Caye, Belize: Mahogany Bay Resort & Beach Club @ HGVC "rumored"
3. San Francisco, CA: "rumored"
4. China: "rumored"

 

[CalGalTraveler]

The resort page says it's Hilton Club. It has the Hilton Club logo on the picture. https://club.hiltongrandvacations.com/en/resort/new-york/the-central-at-5th-by-hilton-club/

Makes sense as it fits the mold of the other NYC bHC properties. Those types of places must be a gold mine. They are up to 4 bHC properties (West 57th, The Residences, The Quin and Central at 5th) and then they also have The Hilton Club property as well. Lots of new properties in NYC. Hopefully will open up some availability.

Yes, a gold mine for developers. Why sell each unit as single residential with fewer units when you can sell for 5 - 10x of the price and avoid the cost of adding kitchens for each residential unit?

Some of the demand may result from not only to tourists but to small businesses seeking to house their employees (and owners) when they visit NYC on business. We've submitted a prorated portion of our MF to work travel when we use part of the visit for business. Unlike the 3 night minimum, the flexibility for 1 and 2 night stays makes business usage feasible.

 

[JIMinNC]

Added this to the list of upcoming HGVC and bHC properties:

Officially Announced

1. Saint Philip, Barbados: HGVC @ The Crane (conversion; 2Q 2019)
2. The Quin by Hilton Club, bHC New York, New York (conversion)
3. Cabo San Lucas, Mexico: HGVC @ Los Cabos (conversion)
4. Chicago, Illinois: Chicago HGVC (conversion; 2H 2019)
5. Ocean Tower, BI HGVC (conversion; Phase I avail now)
6. Waikiki, bHC (new build?)
7. Okinawa, Japan tbd (new build)
8. Charleston, SC, bHC (conversion)
9. Kihei, Maui HGVC (new build; Phase I - 133 units 2020)
10. The Central at 5th, NYC, bHC (new build, Q1,Q2 2020)

Rumored

1. Turtle Bay, HI: HGVC @ Turtle Bay "rumored"
2. Ambergris Caye, Belize: Mahogany Bay Resort & Beach Club @ HGVC "rumored"
3. San Francisco, CA: "rumored"
4. China: "rumored"

One correction - Charleston, SC is a new build. Site is a parking lot and a former Starbucks.

 

[CalGalTraveler]

Thanks @JIMinNC I edited the prior post with your correction. At least I didn't call it Charlotte this time!

 

[escanoe]

They are up to 4 bHC properties (West 57th, The Residences, The Quin and Central at 5th) and then they also have The Hilton Club property as well. Lots of new properties in NYC. Hopefully will open up some availability.

I am hoping between it and the Quin it opens up some plain ol' 1BR vanilla inventory. Sure hard to catch one on W 57th for us mere HGVCer peasants. Us Tuggers are not typical customers, but I would be looking to buy some NYC bHC property on resale if I did not think there was a good chance availability was looking up and that resale prices will likely decline more in a few years. I would be willing to pay for better access to NYC inventory and lounge access, but I don't want to rush to overpay when at some point the market will get more saturated compared to what it is today.

 

[CalGalTraveler]

I am hoping between it and the Quin it opens up some plain ol' 1BR vanilla inventory. Sure hard to catch one on W 57th for us mere HGVCer peasants. Us Tuggers are not typical customers, but I would be looking to buy some NYC bHC property on resale if I did not think there was a good chance availability was looking up and eventually resale prices will further decline in a few years. I would be willing to pay for better access to NYC inventory and lounge access, but I don't want to rush to overpay when at some point the market will get more saturated compared to what it is today.

Short term, I would expect a lot of HGVC club trading inventory because there is unsold inventory. You can see that with NY Residences and GI in HI. We saw that with Borgo Alle Vigne a few years ago. As these properties sell out inventory tightens.

I also expect a short term glut of resales as owners trade up which will affect resale prices. This seems to happen when new developments come online.

As units sell over time, with the high price of points, owners of bHC will tend to use their points within bHC. This will leave less inventory for Club so it will be less fluid than a normal club purchase. With the separation of bHC points and Club points in the reservation system, it makes owners scrutinize the use of those expensive points even more.

Similar to other high-end locales such as Maui, owners may find it more cost effective to either use, trade within bHC during the 75 day window, or rent out their week instead of trading their expensive points in the HGVC system. So they will apply cheaper club resale points from Vegas for their HGVC club trades instead (that's what we and several other NYC Tuggers do) i.e. Why trade a Tesla for a Chevy, when you can trade a Yugo for a Chevy?

We would expect supply and demand to affect resale prices but there will be less impact than one would expect. Sure, there will be the usual significant drop off the developer initially as owners "take these new properties off the lot." However, in HHV resale prices have not dropped significantly beyond the initial resale cliff even though inventory has increased with the addition of GI and Grand Waikikian. Plus resale prices at older but desireable units such as Lagoon seem to have stabilized.

NYC and Waikiki are not Vegas or Orlando - there is not a lot of land so one can expect less price elasticity than these other locations.

 

[CalGalTraveler]

One more point contributing to price inelasticity: Supply of resales will be limited. These will be expensive units so most will be financed. Owners cannot sell until it is paid off so supply will not hit the market for 10 or so years when the loans are fully paid. This may explain why Grand Waikikian and GI values have not fallen much beyond the initial developer cliff - there are not that many resales out there to glut the market.

 

[Sandy VDH]

There appears to be a lot of construction in this neighborhood.

 

[Cyberc]

Someone reported on this from a presentation awhile back but I didn't put much store in it.

Yes it was me. We attended an update in December and the lady informed us about it. Must admit I took it for BS info as no one else had heard about and in the last few months no additional info was provided until now.

Looking forward for more properties hopefully it won’t devalue the current ones.

Link to my thread: https://tugbbs.com/forums/index.php?threads/owners-update-yet-another-location-in-new-york.283063/

 

[1Kflyerguy]

Added this to the list of upcoming HGVC and bHC properties:

Officially Announced

1. Saint Philip, Barbados: HGVC @ The Crane (conversion; 2Q 2019)
2. The Quin by Hilton Club, bHC New York, New York (conversion)
3. Cabo San Lucas, Mexico: HGVC @ Los Cabos Hilton (conversion)
4. Chicago, Illinois: Chicago HGVC (conversion; 2H 2019)
5. Ocean Tower, BI HGVC (conversion; Phase I avail now)
6. Waikiki, bHC (new build?)
7. Okinawa, Japan tbd (new build)
8. Charleston, SC, bHC (new build) (corrected/edited)
9. Kihei, Maui HGVC (new build; Phase I - 133 units 2020)
10. The Central at 5th, NYC, bHC (new build, Q1,Q2 2020)

Rumored

1. Turtle Bay, HI: HGVC @ Turtle Bay "rumored"
2. Ambergris Caye, Belize: Mahogany Bay Resort & Beach Club @ HGVC "rumored"
3. San Francisco, CA: "rumored"
4. China: "rumored"

I just saw a headline that Turtle Bay is starting a major renovation. There was no mention of HGV, so i assume nothing is imminent there.

At one one of the investor meetings in the past year, management was asked about areas or regions that interested them for expansion. They again mentioned California as area prime for expansion. No mention of San Francisco specifically, but California in general. Lots of areas that could be interesting.

There has been no mention of China by HGV in at least a year. My guess is that is not moving forward at this time due to several factors. The major Chinese Insurance company that had been a major shareholder, had to sell all their HGV shares because of changes in regulations. Couple that with the cooling of the Chinese economy and trade war concerns i doubt they move forward with that idea. But thats just my guess.

 

[dayooper]

I just saw a headline that Turtle Bay is starting a major renovation. There was no mention of HGV, so i assume nothing is imminent there.

At one one of the investor meetings in the past year, management was asked about areas or regions that interested them for expansion. They again mentioned California as area prime for expansion. No mention of San Francisco specifically, but California in general. Lots of areas that could be interesting.

There has been no mention of China by HGV in at least a year. My guess is that is not moving forward at this time due to several factors. The major Chinese Insurance company that had been a major shareholder, had to sell all their HGV shares because of changes in regulations. Couple that with the cooling of the Chinese economy and trade war concerns i doubt they move forward with that idea. But thats just my guess.

I think California would be a great spot for expansion. From SF (this would be bHC, I would guess) to Napa and, if they could find an existing resort to refurbish up to HGVC standards, Lake Tahoe.

 

[Cyberc]

I think that SF would be a great location for HGVC.

Since I’m looking to go to LA and I can’t any timeshare locations there maybe that location would be great too. Guess there must be a reason why there aren’t any timeshares in LA at least not in hgvc and RCI. As a European looking to go the location would be great however.

 

[Sandy VDH]

I would like more of the caribbean but not at the huge points values that the Barbados property has. Those point values and open season pricing are crazy stupid.

 

[JohnPaul]

I think California would be a great spot for expansion. From SF (this would be bHC, I would guess) to Napa and, if they could find an existing resort to refurbish up to HGVC standards, Lake Tahoe.

HGVC does have an affiliation with Club Donatello in downtown SF where you can use your HGVC points. Napa allowed two timeshares (Shell Vino Bello and and Napa Riverpointe) but has been very unfriendly to anything more. They would rather have hotel taxes.

 

[CalGalTraveler]

I believe the Donatello is only reserved by the week which is too much time for us in SF given we live in the Bay Area. IMHO...I hope an SF HGVC is similar to the NYC properties where you can reserve a single night or two on reasonably short notice so we can avoid a long drive home after dinner or a show. Although we would still use the bulk of our bHC points in NYC, it would be nice to visit SF or other cities for short stays.

There are plenty of scenic vineyard areas in California such as Paso Robles or Sonoma County so Napa is not the only option.

 

[1Kflyerguy]

I believe the Donatello is only reserved by the week which is too much time for us in SF given we live in the Bay Area. IMHO...I hope an SF HGVC is similar to the NYC properties where you can reserve a single night or two on reasonably short notice so we can avoid a long drive home after dinner or a show. Although we would still use the bulk of our bHC points in NYC, it would be nice to visit SF or other cities for short stays.

There are plenty of scenic vineyard areas in California such as Paso Robles or Sonoma County so Napa is not the only option.

Living in San Jose, I agree an option in SF would be a nice addition.

I agree there are lots of scenic places in California. Monterey or Carmel would great locations as well. As for wine tasting, i think our current favorite location is Paso Robles. However its pretty rustic and small town feel. Not sure well an HGV or other timeshare resort would fit in. There are not many chain hotels in Paso, mostly local independently owned properties.

 

[brp]

Living in San Jose, I agree an option in SF would be a nice addition.

I agree there are lots of scenic places in California. Monterey or Carmel would great locations as well. As for wine tasting, i think our current favorite location is Paso Robles. However its pretty rustic and small town feel. Not sure well an HGV or other timeshare resort would fit in. There are not many chain hotels in Paso, mostly local independently owned properties.

Our favorite for wine tasting is Santa Cruz Mountains, although Paso is also very nice.

We just spent 4 days in Paso late last year at a lovely B&B. I agree that it is just not the right setting to HGVC. A Hilton hotel could work, but not a timeshare. Just the wrong feel. SF, though, would be great, with short-stay option.

Cheers.

 

[escanoe]

Maybe it has been there, but I just noticed today the Quin is listed (not bookable online) now when you check NYC availability. Don't see any listing of detailed room types or point values. (I expect point values line up with other bHC NYC properties, I mostly wonder if they will have any regular 1BRs.) It says sales are projected to start in the 4th quarter.

 

[Nomad420]

Just got back from HCNY and found the place to still be very nice. Got the 1BR suite which was very nice. Lounge is "adequate" but not as nice as 57th st. As many know this place is more "hotel like" with daily room service and turn down service. I was immediately hit numerous time to take the "one hour session" where they were going to give us an "exclusive update" on the "NEW" property which is probably what this thread is about. However neither I nor my wife wanted anything to do with it. When I told them that I only wanted to speak with a rep regarding issues I had with purchase, point usage, and misrepresentation of the product things got very cold. They very quickly stated they were busy and they gave me a 15 minute window on Friday afternoon which did not work. Basically unless you want to possibly but something they don't want anything to do with you is the what I experienced. My emails went unanswered where up until that point they were sending me literally several emails a day. As previously mentioned I wouldn't buy another Hilton property retail, developer, or otherwise now. The only good thing is we did like our stay at HCNY and will probably continue to use at this point.